Jun 2026 (Q2 FY26) — Aug 6, 2026
Kinetik Q2 FY26 — Record Financials and Upgraded FY26 Adjusted EBITDA Guidance
Read the full callKinetik earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 581 | +36.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 23.0 | +4.9 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 49.5 | +109.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
1Y: $35.81 on 17 Oct 2025 → $54.65. High $55.55 (13 Oct 2026), low $31.68 (20 Nov 2025).
Overview
Call summaries
Kinetik Q2 FY26 — Record Financials and Upgraded FY26 Adjusted EBITDA Guidance
Read the full callKinetik Q1 FY26 — Record Earnings Driven by Marketing Gains Amidst Waha Headwinds
Read the full callKinetik Q4 FY25 — Strategic Progress Amidst Challenging Conditions
Read the full callEvery analysed call
Financials
Net profit, year on year: +110% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 396 | 386 | 443 | 427 | 464 | 430 | 410 | 581 |
| Expenses | 323 | 362 | 424 | 349 | 444 | 382 | 414 | 447 |
| Operating profit | 73 | 24 | 19 | 77 | 20 | 48 | -4 | 134 |
| Operating margin | 18.4% | 6.1% | 4.3% | 18.1% | 4.3% | 11.2% | −0.9% | 23.0% |
| Other income | 19 | -6 | 3 | 4 | -3 | 408 | -2 | 4 |
| Profit before tax | 92 | 18 | 22 | 82 | 17 | 456 | -6 | 138 |
| Tax rate | 9.0% | 9.9% | 11.8% | 9.0% | 6.7% | 8.7% | 13.2% | 10.5% |
| Net profit | 26 | — | 6 | 24 | 5 | 143 | -2 | 50 |
| EPS ($ per share) | 0.35 | — | 0.05 | 0.33 | 0.03 | — | -0.07 | 0.65 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -214 | -393 | -369 | 0 | -959 | -724 | -2,977 | -806 |
| Total liabilities | 131 | 597 | 863 | 2,546 | 3,647 | 3,870 | 3,836 | 4,165 |
| Fixed assets | 1,227 | 206 | 196 | 1,839 | 2,535 | 2,743 | 3,434 | 3,866 |
| Total assets | 1,857 | 1,501 | 1,800 | 3,553 | 5,920 | 6,497 | 6,815 | 7,096 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1 | 76 | 102 | 236 | 613 | 584 | 637 | 604 |
| Cash from investing | -175 | -1,504 | -506 | -100 | -286 | -686 | -177 | -199 |
| Cash from financing | 624 | 983 | 373 | -137 | -339 | 100 | -461 | -405 |
| Net cash flow | 450 | -444 | -31 | -1 | -12 | -2 | -1 | 0 |
| Capital expenditure | -84 | -343 | -181 | -78 | -206 | -313 | -264 | -492 |
| Free cash flow | -83 | -266 | -79 | 158 | 407 | 272 | 374 | 112 |
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Midstream Logistics | 0% | 294% | 99% | 99% | 100% | -308% | 99% | 100% | +36.5% |
| Pipeline Transportation | 2% | 2% | 2% | 2% | 2% | 0% | 2% | 1% | -14.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Curtailed gas volumes | ~170M cf/dSpread-based marketing gains have more than offset approximately 170 million cubic feet per day of Waha price-related production shut-ins in the quarter, converting what would have been a volume headwind into a margin tailwind.Source: earnings call transcript | 250M cf/dProcessed natural gas volumes were 1.74 billion cubic feet per day, flat year-over-year despite an estimated 250 million cubic feet per day of Waha price-related curtailments.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
95 filings between Nov 10, 2025 and Oct 13, 2026.
Purchases
$276.6K
1 purchase by 1 insider
Sales
$448.45M
59 sales by 7 insiders
Also filed: 4 conversions.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| ISQ Global Fund II GP LLC | — | $444.40M | Oct 13, 2026 |
| SUGG LAURA A | — | $3.20M | Aug 14, 2026 |
| Wall Matthew | — | $442.6K | Mar 4, 2026 |
| Welch Jamie | $276.6K | — | Nov 10, 2025 |
| Byers Deborah L | — | $141.1K | Aug 12, 2026 |
| Stellato Steven | — | $136.4K | Mar 4, 2026 |
| Howard Trevor | — | $76.0K | Mar 4, 2026 |
| Ellis Lindsay | — | $59.1K | Mar 4, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 13, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 2,000,000 | $109.54M |
| Oct 13, 2026 | ISQ Global Fund II GP LLC 10% owner | Conversion | 2,000,000 | — |
| Oct 12, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 38,377 | $2.08M |
| Oct 9, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 23,139 | $1.26M |
| Oct 9, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 35,300 | $1.90M |
| Oct 8, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 119,203 | $6.47M |
| Oct 7, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 58,464 | $3.14M |
| Oct 6, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 94,570 | $5.11M |
| Oct 5, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 15,088 | $807.7K |
| Sep 23, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 24,194 | $1.30M |
| Sep 22, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 39,937 | $2.15M |
| Sep 21, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 21,511 | $1.15M |
| Sep 18, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 96,262 | $5.20M |
| Sep 18, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 38,822 | $2.12M |
| Sep 17, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 108,977 | $5.87M |
| Sep 16, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 8,772 | $483.0K |
| Sep 15, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 4,686 | $258.2K |
| Sep 14, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 1,025 | $56.5K |
| Sep 10, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 954 | $53.7K |
| Sep 10, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 4,886 | $269.8K |
| Sep 9, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 4,585 | $253.1K |
| Sep 8, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 58,383 | $3.22M |
| Sep 1, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 45,428 | $2.50M |
| Aug 26, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 76,260 | $4.22M |
| Aug 21, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 6,963 | $384.1K |
| Aug 20, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 3,107 | $171.1K |
| Aug 18, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 6 | $329 |
| Aug 18, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 64,892 | $3.53M |
| Aug 17, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 287 | $15.2K |
| Aug 17, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 134,815 | $7.12M |
| Aug 14, 2026 | SUGG LAURA A Director | Sale | 61,180 | $3.20M |
| Aug 14, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 373 | $20.2K |
| Aug 14, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 101,098 | $5.42M |
| Aug 14, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 10,689 | $561.8K |
| Aug 13, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 38,209 | $1.96M |
| Aug 13, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 74,866 | $3.87M |
| Aug 12, 2026 | Byers Deborah L Director | Sale | 2,739 | $141.1K |
| Aug 12, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 84,701 | $4.36M |
| Aug 11, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 90,376 | $4.73M |
| Aug 11, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 57,140 | $2.94M |
| Aug 10, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 37,947 | $1.94M |
| Aug 10, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 40,527 | $2.05M |
| Aug 7, 2026 | Wall Matthew See Remarks | Award | 12,164 | $0 |
| Aug 7, 2026 | Howard Trevor See Remarks | Award | 10,846 | $0 |
| Aug 7, 2026 | Ellis Lindsay See Remarks | Award | 9,731 | $0 |
| Aug 7, 2026 | Stellato Steven See Remarks | Award | 10,846 | $0 |
| Aug 7, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 26,550 | $1.33M |
| Aug 6, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 24,797 | $1.27M |
| Aug 6, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 210,552 | $10.62M |
| Aug 3, 2026 | ISQ Global Fund II GP LLC 10% owner | Sale | 2,175 | $108.8K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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